Ford to carry out 1400 job cuts in the United States and Asia

The report said the estimated 20,000 layoffs will mostly affect salaried employees, a majority of whom work in North America, as the No. 2 USA automaker works to increase its profits and stock prices.

Ford shares fell as much as 2.5 percent in heavy trading and were headed to their worst close since November 2012 as the broader markets tumbled over the political turmoil in Washington.

Certain areas of the business won't be targeted, including its product development and credit divisions.

The company's operations in Europe and South America are also excluded because they have already undergone cutbacks, the company said. He laid off 1,400 of the company's salaried workers in Asia and North America. Salaried and hourly workers in Ford's plants won't be affected.

The BBC reports that the automaker will offer financial incentives and voluntary retirement to about 15,000 salaried workers as it looks to slash costs on the back of declining profits and shrinking sales. Ford said it expects it will hit the targets through voluntary offers, spokesman Mike Moran said.

Despite consistent profitability amid near-record global automotive sales, the Dearborn, Mich. -based automaker said in a statement that it must focus on "becoming as lean and efficient as possible".

The offer will be open to about 15,300 workers, including 9,600 in the US, 1,000 in Mexico, 600 in Canada and 4,141 in Asia.

In 2016, Ford cut hundreds of white-collar jobs in Europe to reduce costs by $US200 million ($269 million) annually. The project is expected to take 10 years to complete and is estimated to cost at least $1 billion.

Ford is getting leaner as it faces an onslaught of challenges, from slowing US sales to high-tech challengers to its own disgruntled shareholders.

Ford has been under pressure in recent days from its investors and board of directors to improve its financial performance and boost its stock price.

Ford said in January it was cancelling a planned Mexico plant and adding 700 jobs in MI. Automakers are trimming costs as they brace for slowing auto sales. Ford also isn't likely to cut jobs in its emerging businesses, such as its research center in Palo Alto, California.

Ford's market capitalization has been surpassed by Tesla Inc, which has sold just a fraction of Ford vehicles.

The Indians bullpen pitched five no-hit innings, striking out seven, but the offense couldn't take advantage. Boyd struck out struggling Edward Encarnacion, but Jose Ramirez tripled to deep center field for a 2-0 lead.

The flights are popular with vacationers and critical to many business travelers, who often buy pricier tickets. Deploying extra staff would take time because they would need to be trained and get security clearance.

The official was referring to White House and Justice Department actions as they relate to the Russian Federation investigation. This is not something I've advocated for, the word has not passed my lips in this whole tumultuous, three or four months.

It led many to wonder whether the president recorded the conversation, including Trump biographer Harry Hurd. A White House official said Trump's discussions with the two Russian officials were "wholly appropriate".

Adam Cranston is due to face Sydney's Central Local Court on Thursday morning charged with conspiracy to defraud the commonwealth. Some 28 search warrants were executed across NSW on Wednesday and will be followed by another six on Thursday.

Trump, for his part, has voiced skepticism about climate change, which he's referred to in the past as a "Chinese hoax". Trump is expected to make a decision on Paris after a Group of Seven summit at the end of May.

But, the appearance of the listing means that it could soon make an official debut on Windows Store in the coming months. The Windows 10 Creators Update, which was shipped in April, is slowly rolling out to consumers via Windows Update.

About potential changes on the main EU treaties, Merkel said the union can not resist the transformations across the world. Together with Germany, he said , he wants to work on "a common road map for the European Union and the eurozone ".

Miller slipped a ideal cross-crease pass to Oscar Lindbergh, who had simply to clip the puck into the open side of the Ottawa net. Miller and Michael Grabner each had a helper. "I liked the six periods that we played in Ottawa", said NY coach Alain Vigneault.

The kingdom's electronic security agency says about 18 percent of Saudi Telecom's computers were affected by the cyberattack. Kaspersky Lab researcher Kurt Baumgartner said: "This is the best clue we have seen to date as to the origins of WannaCry".

According to CNNMoney, they want retractions not only from Fox News , but from WTTG-TV, where the reporting this week originated. Brad Bauman , a spokesman for the Rich family, said Tuesday that the stories were an effort to spread a "political agenda".

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